GCC: Amino Resin Market 2024

Amino Resin Market Size in GCC

The GCC amino resin market dropped modestly to $X in 2023, approximately equating the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Amino Resin Production in GCC

In value terms, amino resin production contracted to $X in 2023 estimated in export price. In general, production, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Amino Resin Exports

Exports in GCC

Amino resin exports shrank dramatically to X tons in 2023, with a decrease of X% compared with the year before. Overall, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2022, and then fell sharply in the following year.

In value terms, amino resin exports contracted notably to $X in 2023. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then reduced markedly in the following year.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. The United Arab Emirates (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the amino resins exports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2023, the share of Saudi Arabia increased by X percentage points.

In value terms, Saudi Arabia ($X) remains the largest amino resin supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Amino Resin Imports

Imports in GCC

In 2023, overseas purchases of amino resins increased by X% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, amino resin imports dropped slightly to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near X% of total imports in 2023. It was distantly followed by Kuwait (X tons), committing an X% share of total imports. The following importers - Qatar (X tons) and Saudi Arabia (X tons) - each recorded a X% share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of amino resins. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Saudi Arabia (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Qatar and the United Arab Emirates increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported amino resins in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, amino resin imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform